Economy

The major bank has revealed this week that two Chinese companies will acquire its 20 per cent stake in Shanghai Rural Commercial Bank.

The prudential regulator has revealed that it brought in supervisory measures for mortgages after finding that competition had eroded banks’ underwriting standards and had “the potential to ...

Australia is unlikely to experience a recession in the near future, but certain “vulnerabilities or excesses” in the economy should be addressed to avoid downturns, says AMP Capital.

More than 40 per cent of all Chinese buying inquiries in the year to date have been for Melbourne, making the southern city Australia’s destination of choice.

LMI provider Genworth has had its A3 credit rating downgraded by Moody’s, with the agency citing “high and rising level of tail risks” as the catalyst.

Fractional property investment company DomaCom has announced plans to introduce a new equity release product to the market, provided that it gets the regulator’s tick.

Industry super fund-owned bank ME has reported a 14 per cent increase in underlying net profit after tax to $85.2 million for the 2017 financial year.

Ratings agency Morningstar has described as “exaggerated” a report from UBS which claims that Australian banks hold $500 billion in “liar loans”.

Non-bank lender Pepper has announced today the appointment of a new country CEO for Australia.

The Australian Prudential Regulation Authority has faced heavy scrutiny over lenders potentially using the crackdown on interest-only lending as a cover for back book repricing.